The objective of this text is to study the relationship between the governance structure and the input intensity of R & D investment of pharmaceutical enterprises, and to check the lag effect of R & D input on the performance.
The data of the balanced panel of 133 medical-listed enterprises from 2009 to 2016 were taking as samples, the regression analysis was performed by using the STATA13.0 software.
In the aspect of the ownership structure, the state-owned control has a negative effect on the R & D investment intensity, and the equity concentration degree and the equity balance degree are positive. In terms of the governance of the board of directors, the proportion of the two-level and independent directors is positively affecting the strength of R & D and the scale of the board of directors has a negative effect.
In that case of executive motivation, the share power incentive and salary incentive do not play the desired positive role. The lag effect of R & D investment on enterprise performance has verified. With the passage of time, the relationship between R & D investment and enterprise performance has gradually changed from significant negative to significant positive.
Based on the research results, some suggestions are put forward to provide empirical evidence for optimizing the internal governance structure of pharmaceutical enterprises and improving the efficiency of R & D.
Inhaltsverzeichnis (Table of Contents)
- Foreword
- Literature review and hypothetical development
- Corporate governance structure and R & D investment intensity
- Nature of stock rights
- Equity concentration
- Equity balance degree
- Board size
- Proportion of independent directors
- two-job setup
- Executive incentive
- The intensity of R & D investment and enterprise performance
- Corporate governance structure and R & D investment intensity
- Test models, research samples and data
- Sample selection and data sources
- Variable definition and Model Construction
- Descriptive statistics of variables
- Correlation analysis of variables
- Empirical results
- Corporate governance structure and R & D investment intensity
- The intensity of R & D investment and enterprise performance
- Robustness test
- Conclusion and suggestion
- References
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper investigates the relationship between corporate governance structure and R&D investment intensity in pharmaceutical enterprises. The study aims to analyze the influence of various aspects of corporate governance on R&D investment and to examine the lag effect of R&D investment on enterprise performance. By using empirical analysis, the paper seeks to provide insights for optimizing the internal governance structure of pharmaceutical enterprises and enhancing the efficiency of their innovation research and development efforts.
- The impact of corporate governance structure on R&D investment intensity
- The influence of various aspects of ownership structure, board governance, and executive incentives on R&D investment
- The lag effect of R&D investment on enterprise performance
- Empirical evidence for optimizing the internal governance structure of pharmaceutical enterprises
- Improving the efficiency of innovation research and development in the pharmaceutical industry
Zusammenfassung der Kapitel (Chapter Summaries)
The paper begins with a comprehensive literature review on the relationship between corporate governance structure and R&D investment intensity in pharmaceutical enterprises. This section explores various aspects of corporate governance, including equity structure, board governance, and executive incentives, drawing on existing research findings. The paper then delves into the methodology employed, outlining the sample selection, data sources, and model construction used for the empirical analysis. Descriptive statistics and correlation analysis are also presented to provide a preliminary understanding of the variables involved. The subsequent chapter focuses on presenting the empirical results, specifically examining the relationship between corporate governance structure and R&D investment intensity and the lag effect of R&D investment on enterprise performance. The paper concludes with a robustness test of the findings and provides suggestions for optimizing the internal governance structure of pharmaceutical enterprises to enhance innovation efficiency.
Schlüsselwörter (Keywords)
This paper explores the relationship between corporate governance structure, R&D investment, and enterprise performance in the pharmaceutical industry. Key terms and concepts investigated include ownership structure, board governance, executive incentives, equity concentration, board size, independent directors, executive compensation, and the lag effect of R&D investment on performance. The research aims to provide empirical evidence to inform the optimization of internal governance structures in pharmaceutical enterprises and improve the efficiency of innovation research and development.
- Quote paper
- Xue Mi (Author), 2019, The Relationship among Governance Structure, R & D Investment and Performance of Pharmaceutical Enterprises, Munich, GRIN Verlag, https://www.grin.com/document/470279
